View OfferSecure site · Updated July 2026
- Savings APY
- 3.80% APY
- Monthly fee
- $0
- Min. deposit
- $0
- Sign-up bonus
- Up to $300
Why it stands out
SoFi highlights
- Up to $300 cash bonus with qualifying direct deposits
- Top savings rate unlocks when you set up direct deposit
- Get paid up to two days early with direct deposit
- No account, overdraft, or monthly maintenance fees
The verdict at a glance
Pros and cons
Pros
- One of the largest new-customer bonuses in banking
- 55,000+ fee-free Allpoint ATMs nationwide
- Access to loans, investing, and credit cards in one app
Cons
- Best rate requires a recurring direct deposit
- Bonus tiers demand fairly high deposit amounts
Our full review
Our take on SoFi
SoFi bundles checking and savings into a single account and pays its top rate once you set up direct deposit. New members who qualify can bank a cash bonus on top, which few rivals match.
Advertiser disclosure: Finmatchly may earn a commission when you visit a partner. This never affects our editorial rankings. Learn more
Figures shown are illustrative editorial examples and may change. Confirm current rates, fees, and terms on SoFi’s own site before you apply.
The alternatives
How SoFi compares
Other top-rated banks in Online Banking. Compare the numbers side by side before you decide.
| # | Provider | Rating | Savings APY | Best for | |
|---|---|---|---|---|---|
| 1 | Ally Bank | 4.20% APY | Everyday savers who want a full bank | See Rates | |
| 2 | Marcus by Goldman Sachs | 4.40% APY | Rate chasers who want a simple account | See Rates | |
| 3 | Discover Bank | 3.90% APY | Savers who value zero fees and service | See Rates | |
| 4 | Capital One 360 | 3.60% APY | People who still want a branch nearby | See Rates |
- Ally Bank4.9Best for Everyday savers who want a full bank
- Marcus by Goldman Sachs4.8Best for Rate chasers who want a simple account
- Discover Bank4.6Best for Savers who value zero fees and service
- Capital One 3604.4Best for People who still want a branch nearby